Jennifer, Home Buyer in Arcadia, CA

When property is in escrow?

Asked by Jennifer, Arcadia, CA Mon Dec 8, 2008

I am interested in this property, I contacted the listing agent and she told me it's not available anymore but it stills shows it's available on all the websites. Does that mean it's sold or it's in escrow? If the house fails to close can I still submit my offer? Thank you!

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5
Ellen Lane, Agent, Burleson, TX
Thu Jul 28, 2011
The house is apparently pending the close of escrow or under an option period. Agents usually will not show houses under contract. Until it closes though , you can still submit an offer as a backup. Many times the house doesn't close because of some glitch and comes back on the market, then they will consider your offer.
0 votes
Narinder Sin…, Agent, Temple City, CA
Thu Jul 28, 2011
Yes Jennifer. You can always make back up offer in the case it fall from Escrow
0 votes
Dallas Texas, Agent, Dallas, TN
Mon Dec 8, 2008
You can submit an offer at anytime as a back up at least your offer COULD be considered if all else fails. If a property is in escrow however still pending option period expiration most agents prefer NOT to take a property off the market till after this time expires. GREAT QUESTION. I would recommend to keep searching for another property however locate a buyers agent who works on your behalf.
Web Reference:  http://www.lynn911.com
0 votes
LYNN FRANKLIN, , Paradise, CA
Mon Dec 8, 2008
Hi Jennifer;

From the information you gave it seems that the property you are asking about has an accepted offer and is in escrow. Some of the Real Estate websites take 24 to 48 hours to post a new status, sometimes the listing agent forgets to report that a property is pending so it continues to show active. A good idea if you really love this home is to write a back-up offer. This is just like a regular offer except it will only come into play if the first buyer backs out or doesn't qualify etc. You would agree with the sellers on all aspects of your offer, such as price, escrow time, terms etc. Then if the first offer falls through for any reason your offer would automatically take affect and you would go into the first position with all the terms you've already agreed upon with sellers. Some agents may hesitate writing a back-up offer because it will only go through if the first buyers fall through and could be a waste of time. You do not need to wait until the first escrow falls through to write a back-up offer, so if you are really interested in that property, don't wait, write your back-up offer today before someone else does. One thing I know for sure after my 23 years of experience in
Real Estate, is that if it is meant to be, it will fit just like a puzzle piece, but you will never know if you don't try.
0 votes
David, , La Jolla, CA
Mon Dec 8, 2008
call her back and ask "What is not available" mean?
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